Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Sells $3,390,121.35 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CFO Robert Thomas Freeman sold 218,295 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $3,390,121.35. Following the completion of the transaction, the chief financial officer now directly owns 1,417,554 shares of the company’s stock, valued at approximately $22,014,613.62. This trade represents a 13.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Robert Thomas Freeman also recently made the following trade(s):

• On Tuesday, March 4th, Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock. The shares were sold at an average price of $15.58, for a total value of $3,895,000.00.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $14.89 on Friday. The stock has a market cap of $2.86 billion, a P/E ratio of -19.34 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock’s 50-day moving average is $13.97 and its 200-day moving average is $12.21. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $16.25.

Institutional Trading of Alignment Healthcare

Hedge funds and other institutional investors have recently made changes to their positions in the company. Verition Fund Management LLC grew its holdings in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after purchasing an additional 55,771 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after purchasing an additional 205,705 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after purchasing an additional 180,522 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after acquiring an additional 73,402 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after acquiring an additional 114,191 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of analyst reports. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Piper Sandler boosted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.